Bitcoin’s highest conviction holders have joined the sell-off in the cryptocurrency, which could signal the beginning of the end of the ongoing crypto slump, according to Compass Point.

Long-term holders – defined as those that have held onto their coins for at least 155 days, or about five months – were largely inactive from February to April but have turned into sellers in recent weeks, Compass Point analyst Ed Engel said in a note Tuesday.

In the past two days they’ve sold about $2.4 billion in bitcoin, “which has large implications on BTC’s supply/demand balances,” Engel said.

He also highlighted that 26% of bitcoin sold in the last 30 days came from investors who bought it above $90,000.

“This cohort of top-buyers had been…